{"id":12929,"date":"2024-06-25T07:00:00","date_gmt":"2024-06-25T15:00:00","guid":{"rendered":"https:\/\/formtek.com\/blog\/?p=12929"},"modified":"2024-04-15T17:05:32","modified_gmt":"2024-04-16T01:05:32","slug":"elevating-information-management-a-strategic-business-lever","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/elevating-information-management-a-strategic-business-lever\/","title":{"rendered":"Elevating Information Management: A Strategic Business Lever"},"content":{"rendered":"\n

Information management (IM) has transcended its traditional role of mere data storage and record-keeping to take on a pivotal role in strategic business decision-making. As businesses grapple with an ever-increasing deluge of data, the ability to effectively manage information has become a competitive differentiator.<\/p>\n\n\n\n

Companies are now recognizing the value of high-quality data and are investing in methodologies that enhance the accuracy and reliability of their information assets.\u00a0This focus on quality is aligned with best practices in data governance, emphasizing the need for robust frameworks, standardized metadata, and effective data quality management processes.\u00a0\u201cBusinesses must only collect high-quality information and properly preserve it for it to be evaluated later and provide insights to drive business decisions and efficiency,\u201d notes Haisam Abdel Malak<\/a>.<\/p>\n\n\n\n

The implications of this shift are profound. Enhanced data quality and governance enable organizations to make more informed decisions, reduce operational inefficiencies, and mitigate risks associated with data breaches and compliance violations.\u00a0Moreover, the integration of artificial intelligence (AI) and machine learning into IM processes is transforming the way organizations handle and derive value from their data, automating routine tasks, and extracting valuable insights from large datasets.<\/p>\n\n\n\n

Looking to the future, the advancements in technology are set to further revolutionize the field of IM.<\/a>\u00a0Developments in cloud computing, 5G, and AI are expected to exponentially increase computing power and network speeds, enabling greater innovation.\u00a0By 2024, it is estimated that more than 50 percent of user interactions will be augmented by AI-driven algorithms, while global data creation is projected to grow to more than 180 zettabytes by 2025.<\/p>\n\n\n\n

The realization of these technologies is not a distant dream but an imminent reality.\u00a0The low-code development platform market, for instance, is projected to grow at a compound annual growth rate of about 30 percent through 2030, indicating a rapid adoption of tools that facilitate easier and more efficient management of information.<\/p>\n\n\n\n

The evolution of information management from a back-office function to a strategic business lever is well underway. As companies continue to embrace the latest technological advancements, the once mundane task of \u2018bean-counting\u2019 is being transformed into a dynamic and critical component of business success. The future of IM is bright, and it is poised to play a central role in shaping the businesses of tomorrow.<\/p>\n

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Information management (IM) has transcended its traditional role of mere data storage and record-keeping to take on a pivotal role in strategic business decision-making. As businesses grapple with an ever-increasing deluge of data, the ability to effectively manage information has…<\/span><\/p>\n

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